Trump Says US Will Snag $10 Billion Ownership Stake In Intel
President Donald Trump said on Friday that the United States will take a 10% stake in Intel as part of an agreement that the White House plans to announce later in the day, and reported that such measures may happen.
A branch of 10% was worth around 10 billion dollars at current prices and tracks with what Intel should receive in the grants of the flea law to build American factories, according to officials. Commerce secretary Howard Lunick said that participation would be not voting, which limits Washington’s ability to direct the operations of the company. (Linked: how the Trump china chips gambit could turn around)
“The United States has not paid nothing for these actions, and actions are now estimated at around $ 11 billion. It is a lot for America and, too, a lot for Intel,” wrote the president on Truth Social. “Building semiconductors and advanced chips, what Intel is doing, is fundamental for the future of our nation.”
Trump should meet the CEO of Intel Lip-Bu Tan later Friday after a meeting earlier this month which followed the president’s request for Tan’s resignation on links with Chinese companies. The two previously met on August 11.
The officials had previously weighed converting $ 7.9 billion in cash grants already approved in equity; At today’s prices, pencils of 10% to around $ 10 billion, according to Reuters.
Intel shares jumped almost 6% on Friday, according to Yahoofinance.
Intel move would be the last of a series of aggressive government links with large companies. The administration recently enabled Nvidia to sell H20 fleas to China in exchange for the government receiving 15% of these sales, obtained a “gold share” with veto rights linked to the purchase of Nippon Steel from US Steel and positioned the Pentagon to become the largest shareholder of a small rare-Terraine minor.
